Q3 25 EPS
$2.68
BEAT +79.67%
Est. $1.49
Q3 25 Revenue
$766.8M
MISS 0.20%
Est. $768.3M
vs S&P Since Q3 25
+1.4%
BEATING MARKET
AVB +7.4% vs S&P +6.0%
Market Reaction
Did AVB Beat Earnings? Q3 2025 Results
AvalonBay Communities delivered a headline-grabbing earnings beat in Q3 2025, posting GAAP EPS of $2.68 against a consensus estimate of $1.49, a 79.67% positive surprise driven in large part by $180.54 million in gains from the strategic sale of six … Read more AvalonBay Communities delivered a headline-grabbing earnings beat in Q3 2025, posting GAAP EPS of $2.68 against a consensus estimate of $1.49, a 79.67% positive surprise driven in large part by $180.54 million in gains from the strategic sale of six communities for $585.08 million, concentrated in Washington D.C. And select coastal markets. Revenue climbed 4.4% year-over-year to $766.80 million, just a whisker below the $768.30 million consensus, as a 2.3% rise in Same Store Residential revenue was tempered by operating expense growth of 4.6%, compressing Same Store NOI growth to just 1.1%. The expense pressure stemmed from property tax increases, higher payroll costs, and smart home technology deployment. Looking ahead, AvalonBay trimmed its full-year Core FFO midpoint to $11.25 per share from $11.39, citing softer Same Store revenue and elevated operating costs, while analysts have noted the stock appears roughly 14.5% undervalued given expectations of tightening multifamily supply in the coming year.
Key Takeaways
- • Same Store Residential revenue increased 2.3% YoY to $685,357,000
- • Same Store Average Monthly Revenue per Occupied Home rose 2.2% to $3,087
- • Same Store Economic Occupancy at 95.7%, up from 95.6% YoY
- • Northern Virginia led regional Same Store revenue growth at 4.7%
- • San Francisco Same Store revenue growth of 5.2%
- • Income from unconsolidated investments increased 68.3% to $42,487,000
- • Gain on sale of communities of $180,155,000 in Q3
- • Same Store operating expenses increased 4.6%, driven by property taxes (+8.9%), payroll, and repairs/maintenance
AVB YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
AVB Revenue by Segment
With YoY comparisons, source: SEC Filings
AVB Revenue by Geography
With YoY comparisons, source: SEC Filings
AVB Earnings Trends
AVB vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AVB EPS Trend
Earnings per share: estimate vs actual
AVB Revenue Trend
Quarterly revenue: estimate vs actual
AVB Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $2.33 | — | $770.3M | +0.40% |
| Q4 25 MISS FY | $1.28 | $1.17 | -8.59% | $767.9M | +0.70% |
| FY Full Year | $4.84 | $7.40 | +53.05% | $3.04B | +0.24% |
| Q3 25 BEAT | $1.49 | $2.68 | +79.67% | $766.8M | -0.20% |
| Q2 25 BEAT | $1.30 | $1.88 | +44.60% | $760.2M | +0.26% |
| Q1 25 BEAT | $1.36 | $1.66 | +22.29% | $745.9M | +0.25% |